Marvell Beats Earnings Estimates but Shares Fall; Anthropic Wins Court Ruling
Marvell Technology reported second-quarter results and guidance that exceeded Wall Street expectations, with data center revenue rising 46% year-over-year to $2.17 billion. Despite the strong performance, shares fell 8% in premarket trading as investors sought stronger upside. CEO Matt Murphy highlighted robust AI-related bookings and projected accelerated growth through fiscal years 2027 and 2028. A federal judge ruled that the Pentagon's designation of Anthropic as a supply chain risk was unlawful under the First Amendment, marking a significant legal victory for the company. Meanwhile, Advent and Stripe reportedly abandoned their pursuit to acquire PayPal in favor of other opportunities, ending what could have been one of the largest leveraged buyouts. The market reaction highlights investor skepticism toward earnings beats without clear signs of future outperformance or transformative growth.
